tv MONEY With Melissa Francis FOX Business April 24, 2014 2:00pm-3:01pm EDT
tomorrow on "risk & reward" at 1:00 p.m. meantime, melissa francis with me now. she has the next hour. melissa: absolutely. deirdre, thanks so much. it is an iphone world and we're just living in it. a big stock split but there is no love for the ipad. up in smoke, new regulations for e-cigarettes but some say they're getting off easy. take your kid to workday is taking on new meaning at the white house. how this little girl may be the ultimate symbol of unemployment in this country. even when they say it's not, it is always about money. melissa: just as the world was ready to bury apple the stock is storming back today. the tech giant reporting better-than-expected earnings and revenue growth but apple is also revealing some core issues that could cause problems down the line.
here to cause it all, charlie gasparino, scott martin of united advisors and ari from quantum networks. ipad only sold 3.65 million ipads, compared to 19.5 last year, far below the average. maybe you don't need an ipad after all. >> i don't think so. shockingly i don't think anybody would have said that six or 12 months ago. mobile phone, smartphone is so robust and can do everything than some, than the tablet. why sleep around this platform? melissa: charlie, do you have an ipad? >> no. i just got rid of my flip phone. melissa: he had a flip phone until minutes ago. >> what is this? melissa: i have no idea. >> galaxy? melissa: you don't need an ipad is what you're saying. >> i will say this i don't need an ipad. i follow companies and stocks. seems no real stock, i know they had better-than-expected earnings. what you worry about with apple
is innovation. how are they innovating? melissa: right. >> where are the new products? it will make money. you do worry about the future. something we've drawn attention to here. the board i know is worried about it. whether tim cook has got the sort of dna that steve jobs had in terms of making this, the for the future. melissa: invent the new products because in the meantime seems like their current products, ipad at least is lagging, is saying. what do you think, scott martin? >> it is definitely sagging and lagging and i'm glad charlie got rid of that motorola startek he had because i want it. >> you have to pay for it. it is an antique now. >> maybe -- >> soon as his brick phone in the green room. >> there you go. those are the ones that apple is trying to pick off. they have still 10 of billions of dollars in cash on hand. that is, massive buyback that was announced and you have to wonder going forward, if they don't have the innovation, if they don't have the new products
other than say the iphone 6, how are they going to use that money? are they going to buy a strategic partner that will help with the product development, that will help dot wow factor apple had? i think that is the hope the stock is trading on today. melissa: instead there is lot of smoke and mirrors and some say financial trickery for people to look away. talk about the seven for one stock split. does it attract the wrong kind of the crude? does it bring in traders that want to buy and trade the stock rather than buy and hold? charlie what do you think. >> what when the stock is high, it is not a bad thing to start splitting. >> money is money. to say it attracts the wrong -- can you attract wrong dollars? it is affordable though. only a fraction of the market. you agree? >> yeah. and it's now. the big problem here is innovation. that is future. melissa: that's true. >> i'm not a tech expert but i read enough to know what is the next product for them? do they have pipeline, something
in the pipeline? >> also management, you brought up tim cook too. >> right. >> i think a lot of people are looking at management as well. >> what you do i this. >> i think he is good. i think he is good. i don't think he is great. i think he is good. >> he is a good manager but should he be in that role? >> at the moment i think he is doing a good job. melissa: the other thing, a $30 billion stock buyback. scott what do you think? was this enough to get icahn off their back. >> because icahn tweeted out he is happy. if the stock doesn't perform, melissa into that buyback, whatever that is, they're not going to be happy with him. i think that is the point the guys are making. tim cook had a tough job to do. he had a done okay. melissa: stay where you are. thanks so much, guys. a huge day for earnings. larry shover at the cme with names to watch. larry. larry what is happening down there? >> sorry about that. right now, the market seems to be quite content to be just trapped in an 1840 to 1880 zone.
we know this is the biggest earnings day of all times, this earnings season. we also know that 200 companies have reported thus far. 76% have beaten on profit. 53% beat own on sales. that is really good but right now the market seems to be quite content to be trapped. we don't know. it is most hated market we've seen in very long time. no one seems to know what the catalyst will make this market grind higher or grind lower. melissa: larry, a lot of catalysts are tremendous amount of earnings we're getting today. for example, pandora. in if you look at options, 13% move up or down based on what happens after the bell, right? is that going to be one of the big movers? >> i think so. 13% to the downside. a lot of put buying in pandora. fierce amount of competition. most traders i'm talking to don't like it and buying put spread in pandora right now. melissa: do you think the broader market is looking at tech results today? there has been a lot of talk
about that? >> yeah. you know, they are looking at it. but when you look at action today, we're basically flat. apple is 4 1/2%, or 4 1/2 points on spx basically we're negative on the day. i think it's helped. keep in mind this is the most hated market we've ever seen in the last three decades. it will take a lot for people to get on board. i don't think people believe it right now. melissa: larry, thank you so much. >> you're welcome. melissa: nasdaq easing back into positive territory thanks to sunny earnings from apple and facebook. is the market still holding its breath despite the good news? jared levy joins the panel along with scott martin and charlie gasparino. jared, what do you think about that? there was a lot of talk that the market was really holding its breath, looking for apple and looking for facebook for direction? we haven't seen a move ion those were very positive. why is that? >> first of all, let me say from a fundamental perspective i don't think apple or facebook are barometers of our economic data at all. what i do know is that apple is very heavily weighted in nasdaq
and nasdaq, remember, sort of flirting with maybe being in bullish or bearish territory with 50 day moving average. i don't think traders just don't want to see the major players like apple and facebook. they want to see follow-through in stocks of russell 2000, the smaller companies. i think earnings look great. i think it helps. but i don't think this carries the tide. that's why you're seeing it. melissa: scott, do you agree? >> i don't know. partly i get the fundamental argument, melissa but if you look at the tape at least over the last few quarters, jared might be right it is changing today but the last few quarters the tape acted like apple and facebook has at least for the first weeks after earnings and i kind of disagree but i agree with him overall facebook numbers are pretty good and i'm surprised market traded so widely today. we've seen it up a couple percent. down almost five. there has been a big move in facebook from what looked to me like a really good report exi'm surprised to see people moving
this. >> i think people are sick of cheryl sandberg. that is why the stock is trading down. she is the most oversaturated annoying executive i run into in many years. there is a point where less is more. where you push on the string. and we should point out when you get out there, i'm trying to be serious year. melissa: yeah. >> you taught happy news tout happy news and pabulum. >> she does that all the time. >> i want to hear what is happening future of facebook. i want to hear how they would make money. melissa: she did talk about a huge move to mobile device and mobility. >> that takes, takes about a minute to explain. and i would say one other thing. this is not a market about fundamentals. let's be honest here. this is market about the fed. the fed taper, how much will they taper. and perversely when the economy is not doing well, market does well because the fed is not going to taper. melissa: on that note we'll
leave it there, guys. thanks so much. >> >> investors on edge for amazon earnings due after the bell. how to play on results on a stock that has been crushed this year. under fire, e-cigarettes are growing in popularity and now investors are weighing and investors should take notice. more "money" coming up. ♪
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melissa: look out, electronic cigarettes. here comes the fda. e-cigs have been on the market and on the fda's radar since 2009 but today marks the first proposal for government regulations. we're going to break down the industry. joining me is "the wall street journal" veronica daguerre, capital security management director of research steven marsha, mark with us, united advisors scott martin. steve, i will start with you. seems on the surface may be bad for the industry. maybe it is good. it felt like it was inevitable. what do you think? >> well the tobacco companies here in the u.s. knew it was coming. so there is question of what
type of format it would take and i think this gives them, in terms of going forward gives them a good idea what they need to do in order to many ply with federal regs in order to role out products next two years. melissa: veronica, do you agree with that. >> this is good news for big tobacco regulators around the world because regulation they can afford to comply. small tobacco makers this will be crunch. there will be more consolidation and that means these little players will buy up the big players. melissa: so far, scott, the regulation i've seen are not onerous. you can't buy them if you're under 18. you have to have an i.d. they didn't talk about banning flavors and like bubble gum and cherry, grape, there to appeal to kids. you think this is only in the beginning? >> it might be. that is the thing, melissa. some of those flavors are pretty wild, not aimed at kid. pena colaud today is another one. they haven't totally curbed
television advertising. this is start of what will be a pretty regulatory environment for the e-cigs and does it affect the customers? face it, they want to sell the product. if they're more regulated how they distribute their message to kid and young adults and that may curb sales and therefore hurt profits. melissa: steve, what do you think? overall this industry is $1.5 billion in sales last year. they think it could be 5 billion this year. does this slow it or help it? >> in the short run it might slow things a little bit but i think over the long term the tobacco companies see the potential growth numbers that you just mentioned and i think they're chomping a the bit to get this market. federal regulatory framework in order to know what they can or can't do to marketing of products and they need public acceptance of marketing approach as well. melissa: veronica, i give you last word. >> sales of traditional tobacco
products fall they need to take hold of these e-cigarettes and comply with whatever regulations. melissa: absolutely t was unrealistic to continue the way it was and number of complaints fda were getting. and idea that get kids get their hands on liquid nicotine they could do. unrealistic if wouldn't come to this, guys, thank you very much. money flowing around the world today, starting in russia which faces more pressure from the u.s. president obama saying new sanctions targeting the company country, are quote, keyed up. president obama says russia is not abiding the spirit of the agreement last week in geneva and has done nothing to well the unrest in ukraine. new rules protect online privacy but limiting the amount of data collected on users. it also promotes an open internet by insuring all people have access to the same amount of traffic at the same speed. if only we could have that here. landing in norway's arctic
circle where a local eye doctor has been identified as the world's biggest tesla super owner. people in his town call him, tesla yen. that is because he owns seven of the expensive electric vehicles. that includes six roadsters and one model s. he says there can be no other car in his life. he will be the first in line when the model x comes out next year. life-styles of the rich and famous helping them live longer than the rest of us. you won't believe how many extra years the top 10% are getting. hey look, another clown on twitter! the ronald mcdonald makeover and why he still isn't up to speed with the times. i think he looks good. how do you think he looks? tweet me. tell me what you think. ♪ can you start tomorrow?
big day today? even bigger one tomorrow. when csx trains move forward, so does the rest of the economy. csx. how tomorrow moves. but i didn't always watch out for myself. with so much noise about health care, i tuned it all out. with unitedhealthcare, i get information that matters... my individual health profile, not random statistics. they even reward me for addressing my health risks. so i'm doing fine... but she's still gonna give me a heart attack. innovations that work for you. that's health in numbers. unitedhealthcare.
melissa: take a look at gm. shares of the automaker are down thanks to hefty recall expenses digging into the bottom line. let's go to nicole petallides at the floor of new york stock exchange. nicole, the stock is getting hit. >> stock is getting hit. the we have news pertaining to class action lawsuits. i will get to that right away, melissa. 55 punitive class action lawsuits are filed against general motors related to the recall. we're watching that as that is crossing. meantime they did come without with their numbers and posted lower profit after that recall. don't forget they are shipping out parts needed to replace those faulty ignition switches. meantime the results that they gave did top expectations for their redesigned pickup trucks in north america, but the big picture here, is that the first
quarter profit did tumble in a big way. 88%. and this was due to the massive recall. and that we've been covering for some time here on the fox business network. so you do have them, that recall, overshadowing the stronger-than-expected earnings and as far as the, outlook for the rest of the year, the chief financial officer saying that the outlook for the rest of the year will have to be cut. so the stock right now down 1.3% at 33.93. melissa. melissa: what, nicole, thanks so much. when the rich have it all they are not kidding. rich have longer life expectancies. if you're rich you live longer. we have the this coming out of brookings. our very own medical dollars manny. >> you got that right. melissa: you don't really buy this? >> this is progressive argument about inequalities of income and
whether or not this will make difference in lifespan. this analysis made on people born in the 1920s, 19 '40s. you have to put that into perspective. that is different health times. life expectancy was different. diagnostic tools we had were completely out of touch with what we have today in 2014. melissa: dr. manny, it is totally logical. >> no. melissa: it is, healthy food is more expensive. a lot cheaper to go to mcdonald's to buy processed food. if you have money you can hire a trainer. that is not what the argument says. the analysis in the "atlantic," which is incredibly progressive in my opinion, basically says, middle 55-year-old person is making average salaries of$5,000 a year. if they make an extra $4,000 a year, perhaps it is about another year of life. listen what kills people, you know what kills people? melissa: stress. money. >> having no jobs. having an economy nowadays that offers no future. people worrying about where the next dollar is growing to come
from? melissa: we're not worried -- >> not so much so. not so much so because, you know, there's far more, you know, one of the things that has happened, we have destroyed the middle income families in this country. middle income and, middle class families are going down, down, down, down. so now that disparity because of the economic policies of this president his government has is creating a lot of tension. in 15 years from now when you look at the data, and you have people retiring, people born in 1970s, 1908's you argue to me, look, manny, same modern medicine, same standards of care, look, known made a difference then i would buy your argument problem. this analysis i don't. melissa: in today's day and age when, you look around, there are doctors in new york only accept cash. you get better health care if you have more money. you can afford to have more done. is that not true? >> it's a phenomenon of manhattan but it isn't for the rest of the country. for the rest of the country,
there are many places in this world, i know that money makes people comfortable. i don't buy the argument that it makes them healthier. melissa: the president wouldn't have big pitch for obamacare and gotten support forfeit there wasn't a disparity in health care between people who had money and people who didn't have money. >> his first argument was bring health care to uninsured. that was the first argument. because he wasn't talking about people that had insurance. get me 40 million people insured because everybody has to be equal. at the end of obamacare you still have uninsured because they're not getting insurance because they can't afford the insurance. you have pockets of marketplace in new york, 57% of the doctors not taking any obamacare whatsoever. if you happen to fall into that category you're still out of no doctor but money is not the issue. melissa: money -- >> it is management of government that is the issue and when you have socialist government like we have, socialism wants everything to be equal and that's where they say,
look, see, if you have more money you will be happier and healthier. it doesn't work like that. opportunity is the key. opportunity, my friends. melissa: dr. manny, thank you so much. stocking up but without all the bulk. amazon's new pantry service that will leave you come brac for more. time to bust out the colorful hermes scarf and head to the ballpark. the french fashion house has a brand new item for your collection. they promise it will bring your game to a fabulous new level, if you can afford it of course. "piles of money" coming right up.
earnings "after the bell". jonathan cortines at the stock exchange. is fading a little bit. >> we are pushing back up again. this might be the last chance the market has bouncing off the lows here but investors are still confused about to take this news. economic data coming earnings reports, some good, some bad, geopolitical risks coming out of ukraine, investors trying to figure out the best way to play this. big earnings coming out "after the bell," we had earnings, praising changes, investors are curious to see not only the earnings but what is said afterward. melissa: if you had to pick one stock what is sticking out most as driver of trading? not >> >> if you look of the pharmaceutical area we have seen some good activity, and a day activity that has occurred. seems like that has been a pretty hot area. the end of 2013 we had some good
information coming in the m&a sector in pharmaceuticals. in that spectrum of things that add good confidence to the market. melissa: fresh off of raising a subscription fee amazon is finding more ways to hear your wallet. the company is launching prime pantry, 45 pounds of household products in small everyday sizes for $5.99 in shipping. is this a good move for the online retail giant? here to discuss it, veronica bagger of the cat would fund and scott marden of united advisers. thanks for joining us. i am going to let you go first. what is your reaction to this? >> i love amazon as a company. most skaters to our habits, amazon changes our habits. they have got the logistical and cost ability to do something successfully, groceries.com sort of does it, a couple others,
these are nonperishable goods, smaller goods, ties people into the amazon world, the prime world, video. melissa: this is the trick. i am a prime member already and i order small household goods and get it shipped for free. i order a tube of toothpaste, they won't let me get just one, they make me by two. i am ok with that because i figure i will brush my teeth again in my life. this way i would get one and pay $5.99 for shipping. this is ultimately more expensive for people paying attention if you are a prime member. what do you think? >> you have to wait longer because with prime if you have it right now, they are saying within four day so you are paying more potentially. some of these individuals -- >> money for sure.
>> to buy an individual paper towel, an individual bubble. >> amazon prime 0 whatever it is, dep prime, the apps on my iphone. this is more expensive for me if i fell for this. what do you think? >> they are trying to kill their competitors, trying to kill drugstore.com and teapot and i think is going to work because it sounds like reading between the lines you are having with amazon prime. amazon prime is the best deal on the planet. forget the movies, the e-book, free shipping, this is stuff they will use and summarily just to kill their competitors. is brilliant. >> i can buy anything on amazon prime. whatever we need, prime, no shipping, feels like got money loser for them. i compare prices with the actual product, doesn't seem they are
gouging the on the price of ttt. what do you think of this move and what you think of amazon "after the bell"? >> that is fair they will succeed. the pricing power, if they look at the cost of goods is great. i love shopping on amazon. i just think it is all about bringing people, in philadelphia, new york, chicago, a lot of us don't have time to go shopping every day just to get the goods in. "after the bell" i am looking for a beat from amazon but i would be really careful here. there are a lot of things on their plate. they are looking for chatter of acquiring some storage from kmart and sears and defunct real-estate and open up some brick and mortar stores. a lot of moving parts. i love the company but be careful. melissa: you may have noticed some things around your office. it is part of take our daughters and sons to work day.
the white house is getting in on the act. michele obama held a q&a session where the girl in the front row approached her and gave the first lady dad's resume. take a look. >> that is the out of the john and i wanted to give you his resume. >> she brought the girl up, hugged her, wouldn't say, said it was a private matter. we were having this debate. did that feel staged to you or did it feel like at the moment it might be a little embarrassing five years into a presidency where there were a lot of people out there who are out of work and pretty desperate like that girl's dad is >> it felt really awkward. i think inga this little girl, i need to help my dad in a desperate situation for so many people. it is embarrassing for the administration in the country in general that so many people still lot of work for so long and some are well qualified good workers that just can't find opportunity. >> she had to have a parent who
is working in the white house so you would assume from the context that she has a mother who is employed in the white house but i guess they could be same gender or another dad working the white house, don't want to exclude anyone and get in trouble. it does say a lot that here she is three years, lot of people in the audience i hear from every day who e-mail in saying they would like to be out working. >> there are so many people who would love and opportunity but not getting that in this economy. employers us afraid to hire. don't know what the direction of the policies governments are going so they are afraid. melissa: faced with getting a lot of extra likes after a blowout quarter. their next priority getting photos of your mom off your time line. at the end of the day is all about money.
dropping after reports of starbucks with a 10% stake in the company. a similar move by coke teamed with kerri to launch its own home phone no machine. governments around the world are responsible for nearly 90% of online spying. the new report by verizon shares a threefold increase in cyberespionage. 50% of that coming from east asia. that is the latest from the fox business network giving you the power to prosper.
>> whether it is on wall street remains 3 years who's making money today. the stock is planning today after it said it expects to report option sales, up by as much as 40% last quarter. very good. investors up around 5%, and third point benefiting the most support, they keep piling on the pressure. making some serious money, the hedge fund mons 7 million shares of sotheby's said they made $13 million. today i would take that. not bad at all. also looking to make some money, airmass is moved on from there flush some dogs and builds to come up with a baseball glove. the fashion house says it is meant to be used and the top
weather came from -- going to bring performance to completely new levels. no comment. losing money for quite a while now. the latest home journal shutting down the regular publication after 130 years. they still get some of it on line. an end of an era. earnings, facebook can't escape the lingering question of user engagement. we discussed it on the opening bell. >> this quarter, 1.28 billion users and 63% coming back. that really has surprised us and has been a strong signal that as more people get on facebook, as people post more, as we get better at showing very relevant posts to consumers people use facebook more. melissa: they are trying to make those posts as relevant as possible. doing their part to clean up
unlink posts on your time line. :users on which updates they find the most obnoxious. cassandra korean and jerrod levy, thanks to all three, let me start with you. they got this poll. if you click and minimize, i am not a facebook user. i love twitter. as you check and minimize away from people's time line or whenever a survey comes up and asks you what did you find annoying about that to try to get your timeline to better suit what you want. it is going to be successful? >> it is a good idea because it allows users to customize their interface even more and that is important to keep some of the younger users active in it. melissa: am i mistaken? i never answer survey when it pops up. get out of my way. >> i always exit out, grab the information and get out. answering survey is a waste of time and a lot of clutter.
the cleaner they can make it where you go in and get information and get out is where they will score. melissa: is that the biggest challenge? making it as clean as possible? you talk to younger kids, they are losing, they say the apps is too heavy, too much there, a pain in the neck. >> totally. facebook is like a friend who fills your day with useless information and wastes time. it is true. the interesting thing is what i find fascinating is there is nothing truly relevant that interests me as a normal human being. everything is what this video you will never believe what happens next. that is all i see. it is very cluttered with i talk to young friends of mine and they're starting to get away from it. they're acquiring new users that have to clean it up. that will be the key to their future but for now they are gathering data. >> that is why it is important if they want to have their interface customized to them and
see those changes -- >> don't want to do the work. >> the other 40% of and not using it as often. your choice to go on or not. melissa: they don't want you to have that choice, stick around. facebook is no longer the favorite social network of teens. is that a big low? >> i don't think it is a big blow. they have plenty of capital to go out to buy the next facebook fourteenth and keep it separate. >> the fact that the average is at 136 minutes which isn't saying -- 1 hour and 36 minutes. >> or you are not doing your job. you are at work on facebook. thanks to all three of you. appreciate your time. liz claman is next to take you through the next hour of trading. you have a lot of work to do today. liz: massive general motors panel talking about breaking news on the class-action
lawsuits, looking at amazon like you are, not just amazon pantry but prime everything, numbers come out "after the bell". jean munster is one of the top analysts. coming in to speak with us. why he still has an overweight on the stock, what he expects from the numbers, amazon is a classic. we don't make money but we spend money kind of company and investors still absolutely loved it and the ceo of legion air, this is a company that made wide-body seeds for water bodies, and more comfortable. and the president and ceo of, speaking with us in a fox business exclusive. a 52 week high today. melissa: run, go, go. ronald mcdonald's with a new look but once in about this modern age makeover is making it hard to take him seriously. you can never have too much money.
melissa: good thing under armor gear is so durable, stocktaking a hit downie%. let's go to nicole petallides with more on that one. >> tough day, great performer, under armor, that made everybody nervous, as they gave out maybe slower growth, they will be facing some tough cops. the 5-year charter gives you a great indication. this stock is up 970% in the last five years. anybody would accept that. that is great news for what the stock has done. revenue continues to grow.
they have done well with winter sales and the like but some of the credit they received last year won't happen and it is a level frothy as a stock, trading higher than its peers like lulu lemon and full locker. melissa: thanks so much. a little fun with spare change. prepared to avert your eyes because mcdonald's has unleashed ronald mcdonald 2.0 on the world and like most makeovers the 51y men for them it has been met with mixed reaction. joining me now attorney and comedian tom rubin. what do you think of this? >> clowns don't normally scare me but i am scared. melissa: you don't think this is very good? i am wondering where it has hit facial hair. they are trying to make him a little more updated, make him appeal to more kids. you don't like that that? looks very rugged. he could be rock climbing or whatever else he might want to
do. the jacket could be mosquito. >> i have a different take on it. the one looks like the life jacket like he is about to jump into a vat of catch-up. and the red jacket, i don't know, is this mcdonald's evening where? he looks like a parking valet. maybe they should have valet parking at mcdonald's. to go through the drive through. melissa: earnings report shows a need a little something to spruce up what was going on at the golden arches. will this have any impact on sales? does anyone look to the clown anymore? the is a little more modern. >> i don't know that that is modern. c shirk outlook went out ten years ago. doesn't have a belt. that is not good.
as far as the lobotomize and i don't know. i kids going to be more scared? i don't know. it is hard -- it doesn't look more modern but the valet parking might be a good idea. bring in a whole new group of upscale customers perhaps. melissa: i don't know. we will see. thank you so much, tom rubin. listen up, the third annual new york day is underway in manhattan. fox business got a firsthand look at some of the goodies. stick around. you can never have too much money. hi, are we still on for tomorrow?
but i didn't always watch out for myself. with so much noise about health care, i tuned it all out. with unitedhealthcare, i get information that matters... my individual health profile, not random statistics. they even reward me for addressing my health risks. so i'm doing fine... but she's still gonna give me a heart attack. innovations that work for you. that's health in numbers. unitedhealthcare. melissa: is the third annual tax day, from techies in the making too heavy hitting ceos gadget
lovers from around the globe got together and joline kent was there for all the action. what did you see? >> 10,000 people, 450 tech companies, the biggest start up or employment date for start ups in the world. is really fascinating. we met up with handy books ceo and all the old school services like bookings you're cleaning person or getting jewelry, that is all going, some of these trends, and here's what the ceo had to say. >> making real bookings on mobile, sending a money for services and whether it is business is like to burn or businesses like cater to me, we are seeing huge grants created in a shorter space of time than ever before. that is really interesting. melissa: they raise $12 million and doubled the number of cities
they are in. and canada as well. and an interesting inflexion. there were a lot of interesting ceos and start ups. we spot a couple marijuana oriented companies, we saw -- they have a variety of different -- so many people, that is the thing. it was packed. we saw a lot of people who want to disrupt air-conditioning. imagines the nests of air-conditioning. a company that was advertising with corky and corky is a company with design and inventions, very fascinating. something to watch on the air-conditioning space. melissa: what are they trying to do? get people to invest in them? get more ideas? >> millions of dollars in play, investors crawling around, making angel investments, mostly people who want to find a job in new york city in the texting,
not doing silicon valley that silicon alley. melissa: were people hopeful? looking at all the ipos going out and feeling like now is the time to get some money? >> i asked about the bubbled mentality and a lot of ceos said they don't believe in that, let interest rates held some get more venture-capital, more money flowing around for start-ups and a lot of companies are raising higher valuations they might not otherwise get if there were other places to invest in this economy. there is a positive side. what is interesting about this new york start up today is it feels old school. it is boos after booth as you saw, yet it is the newest co. on the cusp of what is going to be coming in sight for ten years. melissa: social media accused. >> not so much. mobile first technology bringing services like finding or cleaning person ordering food, very basic things to the next 4 front, t mobile. melissa: speaking of tech and tech gadgets we have some
insight land inaudible reaction to wall of this. to tech genius is as you know. bring your tech genius to work day here. come on over. this is grayson, grayson -- i will get it for you in one second. hang out for a second. what did you bring for us? it is tech gadget they? >> i brought my -- it is really cool. >> mind storm lego robot they build. >> you, press this button and it takes a while to turn on. and so you can actually remote-control it. melissa: you going to the tech conference? have a start a business you like to get rolling? what do you think? >> no. i don't have that. melissa: maybe one day.
you can build robots. fantastic. thank you for coming in for take your kids to work day. welcome to fox business. thanks to you. make it work when we go. >> you can control it. >> count down with liz claman starts right now. >> general motors tanks toughen spite of the run -- recalls, earnings better than expected. $1.3 billion pr nightmare in the rearview mirror? investors give the beleaguered auto maker another chance. a 3d phone, now hbo shows. amazon is full of surprises so get ready for turnings. we will tell you what to look for in the earnings report and whether amazon prime's speed hike will be enough to fire up profit and one airline cruising to new altitudes. hitting a record high after first quarter pro